On October 30, SteelOrbis reported ex-China flat steel offers to Chile with HRC at $580-590/mt CFR, CRC at $630-640/mt CFR and HDG at $685-695/mt CFR.
Sources inform SteelOrbis that flat steel offers declined slightly in early November and have remained steady for the past two weeks. Ex-China offers to Chile on flat steel are reportedly now at $575-580/mt CFR for HRC, $620-625/mt CFR for CRC, and HDG at $675-680/mt CFR. The updated range represents a decline of $5/mt from the bottom of the HRC range and $10/mt from the top of the same range. Both CRC and HDG declined $10/mt from the bottom of the previous respective range and $15/mt from the top of the previous range.
A source noted that opinions are mixed among buyers on the outlook for Chinese export prices. While some traders believe prices may drop on continued oversupply in early 2018 despite environmental policies, other buyers are weary of continued efforts of Chinese policies to further bolster Chinese domestic and export pricing into 2018.
Additionally, heavy plate import offers from China to Chile are reportedly at $570/mt CFR.